Property Management
Silverstone, RWN Purchase Manhattan Multi-Family Building for $53M, Plan Repositioning
Silverstone Property Group and equity partner RWN Real Estate Partners have acquired a 109,000-square-foot, mixed-use residential tower in the Murray Hill submarket of Manhattan for $53 million.
Prism to Manage 12-Property Hotel Portfolio Across Three States
Prism Hotels & Resorts’ management responsibilities have just expanded by 1,877 guestrooms, now that the company has taken on an assignment from a New York-based REIT to oversee a group of 12 full-service hotels in Pennsylvania, Maryland and North Carolina.
American Realty Capital Trust Goes Public, Lists on NASDAQ
After spending a year considering strategic alternatives to maximize shareholder value, American Realty Capital Trust Inc., the flagship REIT of investment advisory firm American Realty Capital, has decided to take on the form of a self-administered REIT.
Carlson Real Estate Engages Eastdil Secured for 5.5 MSF Portfolio
Carlson Real Estate Co. has engaged investment banking firm Eastdil Secured to “assist in reviewing and evaluating strategic alternatives” for CREC’s 5.5 million-square-foot real estate investment portfolio in Minnesota, Arizona and North Carolina.
W.P. Carey Closes on BCBS Portfolio Sale-Leaseback
By Gabriel Circiog, Associate Editor Blue Cross and Blue Shield of Minnesota has sold its six-building headquarters campus in Eagan to investment firm W.P. Carey & Co. The New York-based investment management company announced closing on sale-leaseback financing with the entity through CPA:17 – Global, a publicly held non-traded REIT affiliate. The transaction also included […]
Insight Spends $75M to Transform Silver Spring Post Office into Apartments
Insight Property Group, along with partner Nova-Habitat Inc., has selected the USPS’s Silver Spring facility as the site of a 310-unit, $75 million apartment project.
Law & Policy: How to Achieve Resolution Despite Many States' Years-Long Tax Court Backlogs
Real estate owners and managers have been appealing their assessments with ever-increasing regularity, weighing down local and state tax board and court dockets with a ponderous backlog. By J. Kieran Jennings, Esq.
Property Management: Managing the Tool Kit: Choosing Software is Only the First Step to Address a Growing Array of Tasks
Innovative tools that seemed unimaginable not long ago are a sure bet to come on the market in the next few years, but choosing software is only the first step. By Paul Rosta.
Leadership & Learning: Patience, Restraint Pay Off in Response to Occupy Wall Street
Brookfield faced challenges on multiple fronts with the Occupy Wall Street protests and it walked a fine line to deal with the problem. By Paul Rosta.
Dynamic or Static?
Exterior sun-shading devices, long popular in Europe, are just starting to attract a following in the United States. Whether you choose a motorized or fixed option, they carry a number of benefits–if you’re willing to wait for the payoff.